This folder contains the code and data necessary to reproduce the tables and figures for the files from the paper “Shared Destinies? Small Banks and Small Businesses” by Claire Brennecke, Stefan Jacewitz, and Jonathan Pogach, published in the Review of Financial Studies. Thanks to Paul Goldsmith-Pinkham for sharing the code. Any errors are our own.
 
The code is run using "master.do". Users must:
            1) Specify in line 23 of "master.do" the folder where the contents of the replication package are saved. This is referenced as the “LocalData” folder in the master.do file.
            2) Save the "SourceData" folder from the replication package to a subfolder named "SourceData" in the "LocalData" folder.
            3) Add the .ado files from the Ado folder to their system repository.
 
 
The code first constructs the analytical data sets necessary to generate the tables and figures used in the paper. Figure 2 is constructed as part of the creation of the analytical data.
 
The .do files run by master.do are listed below.
 
CountyYearFirmsSizes.do produces a data set of county-year employment by firm size.
NationalIndustryFirmGrowth2digit.do produces a data set of national employment growth by industry and firm size.
Demographic.do produces a data set of demographic data.
merger_data.do produces a county-level data set of bank mergers.
CPI.do produces a data set of inflation.
CountyBanking.do produces a data set of county-year bank data by bank size.
CountyIndustryEmp_2digits.do produces a data set of initial employment shares by county and constructs the Bartik instrument.
Cluster3.do produces a data set of highest initial 3-digit industry employment shares by county used for clustering standard errors.
BartikAnalysis.do produces the analytic data set used in Section 3 and combining output from other files.
BankLevelAnalysis.do produces the analytic data set that is used for the bank-level results in Section 4 and 5.
CRA.do constructs the data used for the analysis for the CRA in Section 6.
BartikAnalysis_3digit.do constructs the data used for the appendix.
Spillover.do runs both the code to construct the data and runs the regression analysis


